Blackstone, Panchshil to set up India’s largest data center with Rs 20,000-crore investment
Blackstone Group, the world’s largest alternative asset manager, and its development partner Panchshil Realty are planning to develop India’s single largest hyperscale data center with 500 MW capacity in Navi Mumbai with an investment of over Rs 20,000 crore, said persons with direct knowledge of the development.
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The planned hyperscale data center will run on up to 65% green and renewable energy, making it India's first facility of its kind to be powered by sustainable sources. The entire project will be spanned across 14 buildings with over 3 million sq ft development.
This is the first Foreign Direct Investment (FDI) after Blackstone’s recent investment pact with the government of Maharashtra in Davos.
The US-based institutional investor signed three separate agreements in Davos with the state government as part of its broader strategy to expand its presence in India's rapidly growing property and digital infrastructure sector.
To initiate this, Panchshil Realty’s subsidiary Gramercy Info Park has acquired a nearly 50-acre land parcel next to Reliance Corporate Park in Navi Mumbai’s Ghansoli area for Rs 900 crore including the consideration amount, levies, and charges.
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